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<br />REDWOOD CITY <br />IMPACT OF 2ND TIER RETIREE HEALTH PROPOSAL <br />BASED ON THE JUNE 30, 2017 OPEB ACTUARIAL VALUATION <br /> <br /> September 24, 2018 <br />2 <br /> <br />RCMEA <br />Impact of Benefit Change for New Hires <br />(Amounts in thousands) <br /> <br /> New hires are not included in the 6/30/17 valuation results <br /> Benefit changes for new hires impact future year normal costs only <br /> Normal Cost: <br /> Current actives in 6/30/17 valuation: 2.9% <br /> Current actives under proposal: 2.7% <br /> Future actives under proposal: 2.5% <br /> Projection below reflects impact of proposal on both current and futures actives <br /> <br /> <br /> <br />Projected Actuarially Determined Contribution (ADC) Comparison <br />(Amounts in thousands) <br /> <br /> ADC - % of Payroll ADC - $ <br />Fiscal <br />Year <br />Current <br />Plan Proposal Impact <br />Current <br />Plan Proposal Impact <br />2017/18 8.8% 8.3% (0.5%) $ 829 $ 787 $ (42) <br />2018/19 8.8% 8.3% (0.5%) 855 810 (45) <br />2019/20 8.8% 8.3% (0.5%) 881 833 (48) <br />2020/21 8.8% 8.3% (0.5%) 907 857 (50) <br />2021/22 8.8% 8.3% (0.5%) 934 881 (53) <br />2022/23 8.8% 8.3% (0.5%) 962 906 (56) <br />2023/24 8.8% 8.3% (0.5%) 991 932 (59) <br />2024/25 8.8% 8.3% (0.5%) 1,021 959 (62) <br />2025/26 8.8% 8.2% (0.6%) 1,052 987 (65) <br />2026/27 8.8% 8.2% (0.6%) 1,083 1,015 (68) <br />: : : : : : : <br />2036/37 7.3% 7.0% (0.3%) 1,212 1,154 (58) <br />: : : : : : : <br />2046/47 2.9% 2.5% (0.4%) 648 564 (84) <br /> <br />8.A. - Page 16